Kuwait Airways lost $275 mn in 2010
June 21st, 2011 - 11:00 am ICT by IANSKuwait City, June 21 (IANS) Kuwait’s national carrier Kuwait Airways incurred a loss of 76 million dinars (around $275 million) in 2010, the official KUNA news agency reported.
Kuwait Airways attributed the huge loss to the cost of maintenance and fuel. It had posted a loss of 55 million dinars (around $199 million) in 2009.
The carrier has been in the process of privatisation since 2007.
Minister of Information and Communication Sami Al-Nisf said modernising the carrier was vital for attracting strategic investments.
Kuwait Airways was established in 1954. Oil-rich Kuwait has two other private carriers, Wataniya Airways and Jazeera Airways.
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Tags: dinars, jazeera airways, june 21, kuwait airways, kuwait city, national carrier, news agency, private carriers, privatisation, strategic investments